Drawn from their engagements with a diverse range of clients, First Derivatives and Kx presented the practical lessons learned so far in implementing MiFID II, as well as suggesting how to cope with the push to 3rd January.
First Derivatives plc presented three common challenges faced in implementation and suggestions for overcoming them. In addition, strategies for planning for MiFID II in 2018 were discussed given that many firms will not have entirely completed their MiFID II implementation by 3rd January.
Kx then presented the most common and perplexing data challenges for finalising MiFID II. Connecting those challenges to the whole range of regulatory demands in the market gave rise to contemplating enterprise-level solutions that meet MiFID II’s requirements and include the flexibility and extensibility necessary for future regulatory demands.
Finally, First Derivatives and Kx hosted a panel Q&A session that included an implementation perspective from Phillip Jokisch, MiFID II Programme Director at Scotia Bank. Fielding questions from the moderator and the floor, the panel members elaborated further on the data and programme challenges highlighted throughout the briefing.
Like other briefings hosted by First Derivatives and Kx, the MiFID II Breakfast Briefing ultimately left one central message for implementing MiFID II: react tactically to meet compliance deadlines but think strategically in structuring and deploying the changes necessary to be compliant.
Further information from our previous MiFID II Breakfast Briefing can be downloaded below:
Best Practice for a Complex Problem (PDF)
Challenges for Investment Managers with MiFID II Implementation (PDF)